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The Dow Jones surged by almost 300 points on Wednesday, pushing the industrial average beyond a record high as the market absorbed Donald Trump's surprise victory over Hillary Clinton in the presidential election.

While global markets saw overnight turmoil, including futures plummeting by as much as 800 points, those losses were more than balanced out on the first day of post-election trading as investors jostled to position themselves across stocks that would benefit from Trump's policies.

Related: Obamacare May Be Toast

Healthcare stocks were among the strongest to gain on the Nasdaq composite, on the back of Donald Trump's pledge to dismantle Obamacare. Pfizer and Merck gained around 6 percent each, while embattled EpiPen maker Mylan also gained 5 percent.

"When you look at Trump's plans, they are actually pro-market," Nadia Lovell, an equity strategist at JPMorgan Private Bank in New York, told Reuters. "Increased fiscal spending, that's great for infrastructure and defense names, less regulation that helps banks, less involvement in healthcare - things that worried the market before."

http://www.nbcnews.com/storyli...-steady-note-n681351

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I keep hearing about a rate hike in December:

Chicago Fed President Charles Evans said on Tuesday only a "pretty sizeable" negative surprise would convince the Fed to hold off from raising rates.

http://www.reuters.com/article...d-poll-idUSKBN134329

Any changes that Congress and Trump make probably won't start until either the next fiscal year (October) or calender year 2018, so a short recession might be triggered by rate increase. After all, the only thing that created this magnificent economic boom was the Federal Reserve.

Here's what happened over a quarter percent rate hike last year:

Screen Shot 2016 01 08 at 6.07.24 PM

The stock market is having a nightmare start to 2016 and it's all the Fed's fault

http://www.businessinsider.com...st-in-4-years-2016-1

 

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